SDX Energy plans TSXV delisting

Following SDX's dual listing on AIM back in May 2016, the group has seen "limited institutional support" from the Canadian market and said it had found UK investors to be "more receptive to and active in exploration and production companies".

As a result, SDX will look to relocate its corporate residence from Canada to the UK during the second quarter of 2019.

SDX anticipates the move will result in "meaningful annual savings in administrative costs, management time and a more tax efficient corporate structure."

In production news, SDX has received "excellent" data from a 3D seismic acquisition undertaken at its Gharb Centre asset in Morocco.

SDX now expects gross production at its Meseda and North West Gemsa Concessions in Egypt of 4,000-4,200 and 3,400-3,600 barrels of oil per day, respectively.

Chief executive Paul Welch said: "Looking ahead, there are a number of important milestones that we intend to meet across the portfolio, which have the potential to deliver significant value for shareholders."

"We remain upbeat about the year ahead and look forward to updating the market across our operations throughout 2019."

As of 1100 GMT, SDX shares had dipped 0.25% to 390.40p.